Press release
Huntington Bancshares Announces Federal Reserve Response For 2020 CCAR Capital Plan
COLUMBUS, Ohio, June 30, 2020 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) was notified on June 25, 2020 by the
About this update from Huntington Bancshares Incorporated
[{"type":"text","content":"COLUMBUS, Ohio, June 30, 2020 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) was notified on June 25, 2020 by the Federal Reserve that under their severely adverse economic stress scenario in the 2020 Comprehensive Capital Analysis and Review (\"CCAR\"), Huntington's modeled capital ratios would continue to exceed the minimum requirements under the Federal Reserve's capital adequacy rules. These stress test results support the company's previously communicated ability to declare its current quarterly dividend of $0.15 per common share for the third quarter of 2020, subject to approval by the Board of Directors during the planned meeting in July. Our preliminary stress capital buffer requirement is at the minimum of 2.5%.\n\n \n \n \n \n \n \n\n \nAs a result of the changes in the financial markets and the macroeconomic outlook due to the COVID-19 pandemic, the Federal Reserve will provide updated scenarios for all participating banks to resubmit capital plans later this year.\n\"Huntington is committed to be a source of strength for our customers and our communities during these challenging economic times,\" said Stephen D. Steinour, chairman, president, and CEO. \"Disciplined risk management, including adherence to our aggregate moderate-to-low risk appetite, and capital management provide the foundation for that commitment. We have strong capital and robust liquidity, and our core earnings power remains solid. Consistent with prior results, our performance in the severely adverse scenario remains one of the best among the regional banks and clearly reflects our expectation for strong relative performance through the cycle.\"\nCaution regarding Forward-Looking StatementsThis communication contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, co...